This invention relates to novel acetic acid derivatives and to a process for producing the same.
The present inventors have studied a wide variety of compounds, and as a result of this study, they have found that the acetic acid derivatives of the formula (I), ##STR2## wherein X represents an oxygen or two hydrogen atoms, Y represents CH or N, A represents an oxygen or sulfur atom, and R represents hydroxy, amino or a lower alkoxy group having 1 to 5 carbon atoms, and exhibit excellent antiinflammatory activities.